Marks & Spencer Profits Rise Despite Decline in Clothing, Food Sales

LONDON - Profits at Marks & Spencer climbed 5.8 percent to 89.8 million pounds in the first half as the company kept costs under control, while revenues dipped 3.1 percent to 4.97 billion pounds due to declines in clothing and food, two of the retailer's biggest divisions.
Clothing and home sales were down 2.7 percent, impacted by store closures, while online clothing sales growth outpaced the market, M&S said in its interim report on Wednesday. Food revenue, meanwhile, fell 0.2 percent, reflecting “tough trading” and the company's new strategy to slash promotional activity.
M&S said it...Read more ...

Hermès Q3 Sales Rise 9.4% With Robust Growth In Asia

PARIS - Hermès International has defied luxury sector jitters, posting a 9.4 percent rise in sales In the third quarter, lifted by a strong performance in Asia.
Referring to “very strong growth” over the year so far in all regions, Hermès chief executive officer Axel Dumas offered a measured assessment of the group's expectations.
“We keep our optimism for the future, but we are also thankful for the past,” the executive said in a statement.
Sales at the luxury house known for its Birkin bags and signature silk scarves totaled 1.46 billion euros, up 9.6 percent at constant exchanges rates...Read more ...